Corporate Social Responsibility
Social Responsibility of business refers to what the business does over and above the statutoryrequirement for the benefit to the society. The word responsibility connotes that the business has somemoral obligations to the society.The term corporate citizenship is also commonly used to refer to the moral obligations of business tothe society. This implies that just as individuals corporate are also integral part of the society and thattheir shall be guided by certain social norms.Corporate social responsibility is an obligation of decision makers to take actions, which protect andimprove the welfare of society as a whole along with his own interest.
Responsibility to the community: -
1.Taking appropriate steps to prevent environment pollution and to preserve the ecological balance.2. Rehabilitating the population displaced by the operation of the business if any .3. Assisting in the overall development of the locality.4. Taking steps to can serve scare resources and developing alternative where ever possible.5. Improving the efficiency of the business operation.6. Contributing to research and development.7. Development of backward areas.